“It’s a positive that (JPMorgan) earnings were well received,” said Michael O‘Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut. “It’s just a quiet tape and there’s not much going on, so it doesn’t take much to create the move.”

The MSCI All World Index .MIWD00000PUS gained 1.4 percent to end at a new high for 2016 and marking the first time it has closed in positive territory on the year.

The euro fell nearly 1 percent versus the greenback as signs of stronger Chinese economic growth boosted recently batted-down expectations that the Federal Reserve could raise interest rates again in the not-too-distant future.

China reported exports jumped 11.5 percent year on year in March, the first increase since June and well above market forecasts.

Europe’s FTSEuroFirst index of leading 300 shares posted its biggest gain in a month, rising 2.6 percent to end at a three-week high near 1,350. Gains in equities in Europe were led by banks .SX7P, which rose 6.3 percent, as investors welcomed assurances from Italy’s economy minister that European authorities will not block the country’s bank fund.